Egypt’s export to Brazil increased by 155.4%

The Minister of Trade and Industry Nevine Gamea noted that the country's exports to Brazil had witnessed a significant rise of 155.4% in the year 2021.

Cairo, Egypt: The Minister of Trade and Industry Nevine Gamea noted that the country’s exports to Brazil had witnessed a significant rise of 155.4% in the year 2021. With this, the revenue numbers have reached $542m. 

This percentage is higher compared to that of 2020, which stands for $212m. The Minister noted that this is a historic moment as, for the very first time, the export numbers have risen since the establishment of their trade relations. With this, Egypt ranked 32nd in the list of nations exporting to Brazil.  

Advertisement

“Execution of the free trade agreement penned down between Egypt and Mercosur nations in the year 2017 & the announcement of full liberalisation, including the customs drops for a large number of goods exchanged between the two parties contributed to the preeminent trade relations between Egypt and the nations of the grouping”, the Minister added.

The above-mentioned countries include – Brazil, Argentina, Uruguay, and Paraguay. The volume of the trade exchange has also witnessed an increase, reaching $2.5bn in the year 2021 compared to 2020s $1.9bn — an increase of 30 per cent.   

During the last year, the most notable Egyptian exports to the Brazil market includes phosphate fertilisers worth – $183.4m, an uptick of 218.6%, which is being followed by superphosphate with a worth of $50.8m, up from $3.6m, which is an increase of 1350%. 

Then comes urea, with a value of – $38.3m compared to $23.2m (witnessing an increase of 65%), and Polyvinyl with worth – $27.6m, up from $11.5m, which is an expansion of 140%. 

Meanwhile, the Head of the Egyptian Commercial Service office in São Paulo, Yahya Al-Wathik Bellah, further sharing the data, noted that the coverage ratio of the Egyptian exports to imports reached 25%. This percentage is twice the coverage ratio of the previous year. 

 

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

PM Roosevelt Skerrit attends Mens health dialogue with guest speakers

The prime Minister of Dominica, Roosevelt Skerrit, attended the dialogue focussed on "men's health". The discussion was held at the Viele Case resource centre in the parliamentary constituency of the Viele case on Monday evening.

Dubai exported 8 million tonnes of food last year

Dubai, United Arab Emirates: The previous year, Dubai exported 8 million tonnes of food, the capital city's Municipality authorities stated on Thursday. As per...

Israel: PM Benjamin Netanyahu speaks to a number of world leaders

The Prime Minister of Israel, Benjamin Netanyahu, On Tuesday spoke to many world leaders to apprised them on latest war developments.

Recent

Director for Gender Dev from Pangasinan State University, Dr Romary R Lincod, receives Director of the Year award

Dr Romary R Lincod, was bestowed the prestigious ‘Director of the Year for Excellence in School Development’ Award.

Dubai: RTA holds dialogue session at Al-Satwa Bus Station

The Council of Handlers in Roads and Transportation Authority in Dubai held a dialogue session at Al-Satwa Bus Station attended by a number of public bus passengers and observers of this service.

171 new innovations joined Dubai Customs during first half

Dubai: The results of the Innovation League organized by the Innovation Center at Dubai Customs showed a significant leap in the number of innovators in various sectors, departments and customs centres, as the number of new institutional innovations increased to more than 171 institutional innovations, including 19 winning innovations at the team level and three winning innovations at the level of teams.